Pros and Cons of Filing a Tax Extension
Preparing the information necessary to file your tax return can be an overwhelming task and you may wonder whether you should file a tax extension to allow yourself more time. Here are some of the pros and cons regarding tax extensions.
Pros
-
You will have an additional 6 months to complete your taxes
-
You avoid late fees
-
You do not have to provide a reason for filing an extension
-
You can improve the accuracy of your return
-
You can save on tax preparation fees
-
Filing a tax extension is easy when you E-File with ExpressExtension
Cons
-
You still have to file the tax extension by the tax deadline
-
Tax extensions do not extend the time to pay any tax due
-
You will have to wait for your refund
-
You may have to file additional forms for state returns
These are just some of the pros and cons for filing tax extensions. You need to look at your situation to determine whether a tax extension is the answer for you. If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email [email protected]. We have Spanish Support too!
